SNG & Partners Advised Axis Bank Ltd. In Relation To Construction Finance Sanctioned To Prestige Falcon Business Parks
SNG & Partners Advised Axis Bank Ltd. In Relation To Construction Finance Sanctioned To Prestige Falcon Business Parks
SNG & Partners advised Axis Bank Limited regarding construction finance totalling INR 700 crores for Prestige Falcon Business Parks, pertaining to the development of "Prestige Tech Forest" in Bengaluru's commercial real estate sector. Additionally, SNG facilitated the partial sell-down of these facilities to RBL Bank Limited. Acting as legal advisors to both lenders involved, SNG offered comprehensive legal advisory services, including documentation support, negotiation, and finalization of facility and security documents, as well as inter-creditor documentation.
Since the intention to sell down was made known prior to the drafting of the facility and security documents, SNG carefully structured and drafted the documents so as to ensure that the sell down leg of the transaction was effected very efficiently and effectively. The ease of closing the second leg was appreciated by the lenders.
Mr. Ashok Satyanathan (Partner), Ms. Sweta Mehta (Associate Partner), Ms. Avni Gupta (Associate), and Mr. Manan Pant (Associate) provided advisory support for the transaction.
